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http://www.safrica24.com/politics/treasury-report-wants-probe-into-corruption-at-transnet-eskom/131078-news
Treasury report wants probe into corruption at Transnet, Eskom
  • 2018-11-16 03:40:46 PM
  • 13

Treasury report wants probe into corruption at Transnet, Eskom

Johannesburg - A report on a probe commissioned by the National Treasury into procurement procedures at state-owned power utility Eskom and logistics firm Transnet has recommended criminal investigations into the conduct of some senior officials between 2012 and 2016.

The Fundudzi Forensic Services report published by the National Treasury on Friday details, among others, findings of a forensic investigation into the appointment and management of advisory work done by McKinsey and Company South Africa, Regiments Capital Management and Trillian Capital at Eskom and Transnet.

It says the police Directorate for Priority Crime Investigation, known as The Hawks, should investigate whether officials at Transnet and Eskom, including Anoj Singh, a former group chief financial officer at both utilities, as well as those from McKinsey and Regiments did not receive gratification in terms of the Prevention and Combating of Corrupt Activities Act.

The Treasury asked Fundudzi, to probe whether Singh facilitated the appointment of McKinsey, Trillian or Regiment Capital in Eskom and Transnet and whether this amounted to abuse of a position of authority, a breach of trust or violation of the law.

During the period 2012 to 2016, Transnet appointed McKinsey for advisory service on several projects, including the procurement of 1 064 locomotives.

The report finds that McKinsey and Singh compromised the integrity of the procurement process by sharing pointers of a procurement to be initiated prior to the approval of the confinement by former Transnet group CEO Molefe, who like Singh also reprised the role at Eskom.

McKinsey and Regiments commenced with work relating to projects before the conclusion of the procurement process, with the former using the "letters of intent" issued by Singh as the basis to commence with the projects.

McKinsey, Regiments and Trillian were paid out of pocket expenses without producing supporting documents.

The three companies were paid R1.5 billion in respect of the contracts awarded through a confinement between 2012 and 2016.

The forensic report says there is no evidence that Trillian - a company linked to the Gupta family accused of using its ties with former president Jacob Zuma for financial benefit - performed work in respect of financial structuring advisory services to support an invoice of R11.4 million approved by Transnet group chief procurement officer Thamsanqa Jiyane.

(ANA)

  • Treasury report wants probe into corruption at Transnet, Eskom
  • Treasury report wants probe into corruption at Transnet, Eskom
  • Treasury report wants probe into corruption at Transnet, Eskom

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